Frequently Asked Questions

Yes, please see the forms section for broker transfer forms

We are licensed to only provide coverage in Alberta.

Call or email your broker. 

V.B. Insurance Brokers contacts are on our About Us page.

Brokerage contact information is on our claims page.

Contact your company claim adjuster. If you’re unable to contact them or have questions, your broker may be able to help.

V.B. Insurance Brokers contacts are on our About Us page.

Brokerage contact information is on our claims page.

When you buy or renew insurance, work with an insurance professional to understand what coverage best suits your needs. Home insurance coverage can be broken into two categories – personal property and personal liability. There are several types of policies, like home (owner occupied, rented to others, recreational/seasonal); condo/strata (owner occupied, rented to others, recreational/seasonal); and tenant or renter’s insurance. Then there are multiple levels of coverage: comprehensive, basic or named perils, broad and no frills.

Your insurance representative can help you determine applicable coverage, premiums and available discounts, as well as your personal property insurance requirements.

Insurers consider multiple factors when calculating your premium, including your vehicle’s make, model, year and safety features, your age and driving record, where you live, how frequently you drive, if your vehicle is also used for commercial purposes, etc.

When possible, yes. Doing so may make you eligible for extra discounts and coverage.

Policies should be reviewed annually upon the policy renewal. Changes should be made as required.

Broker’s work for the brokerage and are the middleman between client and company. An insurance agent is an employee of the insurance company and is the middleman between broker and company.

Record all details about the event as soon as it’s safe to do so. Make a complete list of damaged, destroyed or stolen items. Take photos and detailed notes and call your insurance representative as soon as you can. Make sure you review the terms and conditions in your policy to understand what is and isn’t covered.

Yes, your coverage will extend countrywide and into the United States of America. Please note that your auto insurance policy does not cover you if you drive in Mexico. Please note that Mexican law requires you to buy an auto tourist policy to legally drive in the country.

You can avoid a lapse in insurance coverage if you pay in full within 30 days of the payment due date. If you make a payment after 30 days, your insurance policy will be subject to new terms and conditions.

A deductible is the amount you pay out of pocket before your insurance steps in to help cover the claim. Higher deductibles typically result in lower premiums, while lower deductibles generally mean higher monthly costs, but less to pay out-of-pocket during a claim.

No, normally the policy can only be transferred within 60 days of the policy expiry.

Coverage begins with the policy effective date and ends on the anniversary date of the next year. When adding new vehicles to a policy, the effective date will be the day the unit is added to the policy, and expiry will be the anniversary of the policy start date.

Policies can be cancelled by signing a cancellation form. Please see the forms section.

Vehicles can have liability removed and be “parked” with either Comprehensive or Specified Perils coverage. This means they do not carry the mandated personal injury and property damage required to drive on roadways; but have some coverage for the vehicle itself.

Most companies apply a Short Rate cancellation when policies are terminated early. This means they charge an extra fee for leaving early. If thinking of cancelling, please contact your broker so you can understand the possible charges in this regard.

Give us a call, or send us an email and your trusted broker will help you out

See our forms page for blank cancellation forms and quote sheets.

No, renters insurance isn’t legally required, but many landlords require tenants to carry a renters insurance policy as part of the lease agreement.Renters insurance is a smart choice for anyone renting a home, whether it’s an apartment, condo, or house. While your landlord’s insurance covers the building itself, it doesn’t extend to your personal belongings. If your belongings are damaged or stolen due to fire or theft, you would need to pay for replacements out of pocket without the protection of insurance for renters

A homeowner’s policy insures the structure of your home if it’s damaged or destroyed by fire or other covered event. It:

• Protects your belongings against damage, theft, or loss
• Provides living expenses if you’re displaced due to a covered loss
• Protects your personal liability if someone sues you
• Pays for medical expenses if a guest is hurt in your home or on your property

Yes, valuable/collectible items can be scheduled on the policy as a personal article floater

Homeowners insurance covers the property, contents and personal liability of you (the policyholder), your spouse or partner and your children (age limited).

The policy also covers:

Relatives of you or your spouse who are living in your household

Dependents under the age of 21, who are students either living in the household or temporarily living away from the insured principal residence

Actual Cash Value (ACV)- The fair market value of property, taking into account factors that might augment or reduce the value of the property in question. Actual cash value (ACV) is usually calculated in one of three ways: (1) cost to repair or replace less depreciation; (2) fair market value; or (3) consideration of all relevant evidence of the value of the damaged property.

Replacement Cost Clause- A provision, generally in property insurance coverage, to provide a substitute of the damaged or lost property with something similar, including having the same use but not necessarily identical to the property being replaced, without extra cost to the insured.

To avoid being underinsured, regularly review your insurance coverage, especially your home and auto policies, with your insurance representative. Update your personal property inventory and ensure it reflects the current value of your belongings. Also, be sure to account for any potential rebuild costs, additional living expenses, and the potential impact of bylaw changes or renovations.

If you’re found legally responsible, this coverage helps pay for injuries or fatalities to another person and related expenses arising from a covered accident, up to your policy limit.

Comprehensive coverage helps pay for repairs or replacement if your car is damaged by something other than a collision, for example theft, fire, vandalism, storms, or animal contact. Coverage applies up to your policy limit minus your deductible.

Collision coverage is for if/when your car is overturned or damaged in a collision with another vehicle or object, this coverage helps repair or replace your car, up to your policy limit, minus your deductible.

See here: How rates are calculated

Yes, different options are available depending on your situation. Please contact your insurance broker to assess your needs.

In Alberta, your car insurance generally covers anyone you authorize to drive your vehicle, provided they have a valid driver’s license and aren’t specifically excluded from your policy. The insurance follows the vehicle, not the driver, meaning your policy will respond if the driver is involved in an accident. 

Here’s a more detailed explanation:

Permissive Use:

Your car insurance typically covers anyone you give permission to drive your car, as long as they have a valid license and are not excluded from your policy. 

Insurance Follows the Car:

The insurance policy is tied to the vehicle, not the driver. This means that even if you’re not driving, your insurance will be the one to handle any claims resulting from an accident involving your car. 

Potential Impact on Your Premiums:

While your insurance covers the other driver, keep in mind that any accidents or traffic violations they incur while driving your car can still affect your insurance premiums. 

Exceptions:

There are exceptions, such as if the driver is using the car for commercial purposes, or if they are specifically excluded from your policy. 

Frequent Drivers:

If someone frequently uses your car, it’s recommended to add them to your policy as an occasional or additional driver to ensure full coverage and avoid potential complications.

Adding an SEF 27 gives coverage for non-owned vehicles up to a certain amount. A SEF 20 will give coverage for a rental vehicle in the event you need a replacement vehicle when a claim occurs.

Yes, multi vehicle discounts are available with most insurance companies

Yes, they can be scheduled along with your private passenger vehicles on your current policy as long as they meet the company guidelines.

Commercial liability insurance, also known as Commercial General Liability (CGL) insurance, primarily covers a business against financial losses resulting from claims of bodily injury or property damage to third parties caused by the business’s operations, products, or premises. It can also cover legal expenses associated with defending against such claims and any damages awarded by the court.

Your business’ ability to generate sales could be threatened at any moment. With business interruption coverage, you’d collect the income you expected to be generated from doing business during repairs and shutdown. Here’s how business interruption (BI) works:

Business Interruption is an optional add-on to your existing commercial property insurance policy. If your business needs to shut down due to a covered peril, BI covers continuing revenues or replaces lost profits. You can choose from three types:

A “gross earnings” policy which pays only until property or stock is replaced or damage is repaired. This helps maintain cash flow when damaged stock or inventory is unsellable.

A “profits form” policy which continues to pay until your business resumes its normal, pre-interruption level, subject to limits

An “extra expense” policy for businesses that can continue to operate during periods affected by loss and/or damage. For example, it could cover the cost of moving to a temporary location while your premises are repaired.

Yes, whether you own, rent or lease; equipment and inventory can be added to your commercial property policy.

Home insurance does not cover claims which relate to the business. For this reason, it is important home-based business owners get insurance which meets their business needs. Some common insurance business insurance coverages include general liability insurance (which could help with costs if there is damage to the business property or a lawsuit due to a customer being injured) and business property insurance (which could cover costs to repair damage to a business owner’s home).

Regardless of where your business is located, purchasing auto insurance is mandatory across Canada. Beyond securing the mandatory coverage set out by each province and territory, you can select additional commercial vehicle coverage for owned or leased cars, trucks or fleets of vehicles used by your business. Knowing your responsibilities can help you confirm adequate coverage.

If you’re paid to provide professional services or advice, you may need professional liability – also known as errors and omissions – insurance. It would cover damages and defence for financial loss or bodily injury claims arising from acts of professional negligence such as:

• giving a client professional advice that’s inaccurate or incomplete and the client’s business suffers as a result
• services provided by one of your employees, who’s a professional technician, leads an individual being Injured
• an employee, who’s a trained psychologist, speaks to a teen who calls your non-profit’s teen crisis hotline. Subsequently, the teen harms themself and their family sues your organization

Such insurance will cover you if you provide a service – such as hairdressing or dog grooming – that goes awry and causes damage or injury. This kind of insurance may be offered through professional associations.

It’s important to know definitions of ‘professional’ can vary.

Your insurance representative can confirm what’s specifically covered by your commercial property policy and advise about optional add-ons.

Yes, changes can be made anytime required. It’s best to review your policy at least once a year to ensure up to date information and proper coverage placement.

Homeowners insurance– Home and possessions, Personal liability coverage,Outbuildings and structures (limited to size and use),Building materials and supplies (possibly)

Farm insurance– Home and possessions, Personal liability coverage,Outbuildings and structures, Building materials and supplies, Farm machinery and equipment, Livestock, Farm products, Farm liability coverage, Farm product liability coverage,Fences and corrals, and more.

If you farm on land that is not adjacent to your home or farm and ranch operation, your insurance company can include that for purposes of liability coverage.

Yes, but coverage varies depending on the company.

All farm equipment can be added to the policy, as well as tools. Some commercial machinery can also be added if used for personal use only.

No, these structures must be added to the policy under outbuildings and contents. 

Does insurance cover my crops if I lose them to weather or pests?

Coverage varies by company, but can be insured for the following:

• Feed(hay, straw, stacked feed and commercial feed supplements) can be covered for fire, lightning or explosion of natural, coal or manufactured gas.
• Stored grain can be covered for fire, lightning, transportation loss, theft, cyclone, tornado and windstorm.
• Standing crop can be covered for fire only.

Liability insurance is not required by law, but Liability insurance covers legal expenses and damages if someone is injured or their property is damaged on your farm due to your farming activities.

No, farm insurance is not required by law.

• All Risk, Replacement Cost on partial losses for vessels newer than 10 years of age
• GRC is available for new boats – subject to qualification  
• A separate Additional $1 million limit for pollution / spill liability included 
• Waterski liability included within P&I limit (not sub-limited) 
• True Marine P&I (Liability) protection ( incl. removal of wreck coverage) 
• Consequential Property Damage Protection – unique policy language that affords coverage for basic marine perils regardless of cause, even wear & tear
• Vermin & Marine life damage is covered 
• Freezing damage covered where appropriate precautions taken 
• Uninsured Boaters coverage
• Emergency Towing 
• Loss of Use 
• Newly acquired vessel coverage automatically included
• Medical Payments and Accidental Death Benefits coverage

Provincial healthcare provides limited coverage for medical treatment and hospital costs outside of your home province. Some provincial healthcare plans won’t even cover expenses like ambulance services, ER fees, emergency dental treatment and prescription drugs.

Hospitalization and treatment for medical emergencies, including COVID-19, Ground, air or sea ambulance services, X-rays and other diagnostic laboratory tests, Prescription drugs, Essential medical supplies such as crutches, Fracture treatment benefit, Other professional medical services like physio, etc. to relieve an acute emergency, Emergency dental services, and many more.

A trip cancellation plan provides coverage if your trip is cancelled for a covered reason before you depart for your trip. The benefits could include reimbursing you for the cost of non-refundable travel expenses, like trip deposits and flight change fees, if your trip is cancelled because of a covered cause. 

On the other hand, a trip interruption plan provides coverage after you depart on your trip. The benefits could include paying for your trip home or to your next destination if your trip is interrupted because of a covered cause.

It is good to keep in mind that trip cancellation and interruption plans may not provide coverage for medical expenses you incur on your trip. So, you may want to purchase a travel medical plan if you are looking for travel medical coverage.

Most facilities require some form of insurance when you rent for special events. This insurance also covers you and your guests in the event of an accident.

Yes! A wedding is so much more than just the ceremony and reception, and weddinguard covers all of that and more.

Yes, depending on the type of recreational vehicle we can add them to your existing auto policy, or a new policy can be written.

Recreational insurance is done on an annual term, but is rated on a seasonal use. Which means you’re only being charged for the months it’s most likely being used.